|Description||NEX is a decentralized blockchain based cryptocurrency exchange that aims to link centralized exchanges with decentralized ones by incorporating the elements of trust and security.|
|White Paper URL||https://neonexchange.org/pdfs/whitepaper_v1.1.pdf|
|Coin Price||1.00 usd|
|Coins Offered||50% of total token supply|
What Is NEX?
NEX is a decentralized blockchain based cryptocurrency exchange that aims to link centralized exchanges with decentralized ones by incorporating the elements of trust and security. Neon exchange system comprises of three basic components including an off-trade engine based on machine, smart contracts to execute trades, and a payment platform that converts assets like NEO & Gas into tokens which are then transferred by smart contracts directly, enabling them supported on the exchange.
NEX is a blockchain based decentralized cryptocurrency exchange that focuses to bring the level of centralized exchanges up to the level of decentralized exchanges in terms of operational risk management and funds security. Many cryptocurrencies are dealt on centralized exchanges these days. This leaves client’s investment on a stake as there is a potential threat of being hacked or abused by platform managers. NEX works differently. Being a decentralized exchange it incorporates an off-chain machine engine that is publically verifiable to support complex orders and manage high trading volume. It also incorporates a payment system through which third-party smart contracts are executed.
How Does NEX Work?
NEX incorporates a mechanism of a publically verifiable Off-chain engine that manages huge trading volume. The NEX payment system helps NEO in executing third-party contracts in a way that global assets like GAS and NEO are sent and received making a computational part of smart contracts. The platform handles complex types of orders including limit orders and market orders that no other decentralized exchange seems to be supporting at times.
Earn NEX tokens
The NEX tokens sale will follow a two-phase system. One after the other phase will be launched by the exchanges ICO to offer its tokens to the participants. Investors who wish to earn NEX tokens need to get themselves registered for the lottery program offered by NEX. The lottery will select 25000 participants who will be able to contribute to the token sale on priority with each being able to contribute a maximum of $1000. NEX will be holding its second lottery to open up the opportunity for those who wish to earn NEX tokens but couldn’t register earlier for any reason.
Buy NEX Tokens With E-Wallets
NEX supports ethereum as its base currency. Like most of the ICO, the NEX platform is also based on ERC20 tokens. These tokens, being cryptocurrency, need to be stored in e-wallets. Therefore, people who wish to buy NEX tokens need to open an e-wallet account first. Although, many other sources are available to open an e-wallet account with, however, NEX users need not go anywhere, since the exchange itself offers its own e-wallets.
As per the information available on the official website of the NEX, it plans to hold its token sale in April following two rounds of sales. The ICO plans to launch its first round in April, 2018. The first round of the ICO will last for only one day. The exact date of opening and closing of block numbers will be announced by the ICO prior the token sale begins. In the second round, the ICO will open its token sale for additional two days or unless all tokens are sold out. There will be a maximum token supply of 50 Million out of which 25 Million will be made available for the public to subscribe. The starting price of the ICO token is expected to be 1.00 USD. The platform will be accepting both NEO and GAS for the sale of its tokens.
The ICO plans to distribute its tokens under the following proportion;
- 10% tokens are planned to be distributed to partners of the ICO
- 15% tokens are planned to be distributed to the NEO Council
- 20% tokens are planned to be distributed to the founding members of the ICO
- 1% tokens are planned to be distributed to E.S.O.P
- 4% tokens are planned to fund the Platform
- 50% tokens are planned to be made available for the public to subscribe
We couldn’t find any information concerning fund allocation of the company. Usually, ICOs do provide some knowledge about their prospected usage of funds. But in case of NEX, no such information is available. It could well be the case that the exchange consider is too early to disclose any such information. It may present funds usage and allocation information just before the public sale of its tokens.
The ICO has following team members;
- Fabio C. Canesin is the Co-founder & Developer at NEX
- Fabian Wahle is also the Co-founder & Developer at NEX
- Ethan Fast is another Co-founder & Developer at NEX
- Luciano Engel is another Co-founder & Developer at NEX
- Thomas Saunders is the Co-founder & Developer at NEX
- Nathaniel Walpole is the lead designer of the ICO
- Samuel J. Mansfield is also another designer of the ICO
- David Schwartz is also a developer at NEX
- Evgeny Boxer is yet another developer at NEX
- Carla F.de Paiva is the Marketing & Public Relations Officer at NEX
- Da Hongfei is the advisor to the company
- Erik Zhang is also an advisor the company
Invest In NEX
After a detailed review of the ICO, we hereby conclude that NEX is going to be the world’s favorite exchange to deal in cryptocurrencies. It has a broader vision to make centralized exchanges safe enough as that of decentralized exchanges by combing the features of both types of exchanges. The objective of the ICO seems quite realistic. It also has a sound plan to launch its public sale in coming months. We believe the ICO is going to be a successful venture for sure. Therefore, we suggest, people should definitely come invest in NEX with an open heart. We hold a view that this will be the best investment decision of their life.Visit Broker